Proximar obtains the highest rating in terms of sustainable development by the main Japanese rating agency

Japan/Norway 31st of March 2021 

Proximar Seafood AS has been awarded top rating for the company's sustainability
work by the recognised Japan Credit Rating Agency (JCR). 

"We believe that our commitment to produce salmon in a sustainable way and in
proximity to the market will be our long-term advantage. It's a major
recognition for our entire team that a renowned rating agency in Japan rates
Proximar with the highest score possible", says Joachim Nielsen, CEO of Proximar

Highest rating
Japan Credit Rating Agency has reviewed the "Greenness and Social Beneficial
Impacts" and the "Management, Operation, and Transparency" of Proximar's
sustainability framework. The highest rating "SU1(F)" was assigned. The
framework meets the standards for the items required by important credit market
principles such as the Green Bond Principles, the Social Bond Principles,
Sustainability Bond Guidelines, the Green Loan Principles, the Green Bond
Guidelines and the Green Loan and Sustainability Linked Loan Guidelines by the
Japanese Ministry of the Environment. Japan Credit Rating Agency's evaluation of
Proximar states:

The project is expected to bring social benefits from the following viewpoints:
(1) preventing marine pollution and conserving biodiversity; (2) food security
and sustainable food supply for consumers; and (3) revitalization of local

Increased attention
Last year, Proximar Seafood received the Dark Green shading by Cicero, a great
acknowledgement of the project as a solution that resonates with the long-term
vision of a low-carbon and climate-resilient future. 

"Over the past couple of years, awareness of environmental, social and corporate
governance (ESG) issues have increased among Japanese consumers. Japanese
financial institutions are becoming more concerned about ESG in their debt
portfolio and internal decision processes. The focus on details is immense and
using a reputable Japanese rating agency is important for these institutions
going forward," says Joachim Nielsen, CEO of Proximar Seafood. 

"Proximar's vision is to be a leading provider of sustainably produced seafood
and contribute to feed a growing population with proteins. Although the core
business of land-based salmon farming avoids many environmental issues related
to traditional seafood production, addressing the remaining environmental
challenges is at the top of our agenda," says Vivian Lunde, Director ESG and
Business Operations.

The JCR report will be presented in both Japanese and English and will be made
available on

Proximar's production
Proximar's land-based production takes place in a fully closed environment with
minimal environmental footprint, both locally and globally, securing a
sustainable and safe product. This type of facility ensures high quality
production and stable harvest volumes all-year round, ensuring better feed
efficiency due to faster growth and lower mortality. The facility will make
minimal use of water, electricity and additives, with 99.7 per cent of water
recycled, efficiently reducing freshwater consumption and wastewater volume.
Proximity to the market eliminates the need for air freight and enables an
unparalleled product freshness.

For more information, please contact: 
Joachim Nielsen, CEO, +47 92 85 55 59, [email protected] 
Pål K. Grimsrud, CFO, +47 99 47 75 99, [email protected]  
Vivian Lunde, Director ESG and Business Operations, +47 95 26 12 07,
[email protected] 

About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility under construction at the foot of Mount Fuji in Japan.
Through land-based fish farming, the company will serve the Japanese market with
fresh Atlantic Salmon, harvested the same day. Proximar's location, in one of
the world's most important fish markets, implies significant advantages, both in
terms of reduced cost and carbon footprint.

Click here for more information

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